The crypto exchange held about 32,000 BTC, 274,000 ETH, and 820 million USDT stablecoins, as well as 9.7 billion TRX tokens. btc trx usdt
, Huobi, which was acquired by the About Capital buyout fund in October, suggested that such disclosure helps to reassure concerned users. Before Huobi unveiled its proof of reserves, other crypto exchanges like Binance, Crypto.com, Deribit, Kucoin and Okx have all given theirproof-of-reserves via Merkle tree and full audits. As noted in the report, when crypto exchanges display PORs, this enables users to track their token holdings and transactions.
Meanwhile, the crypto exchange said it would further boost user confidence by making the display of PORs a routine practice going forward. “To further enhance users’ confidence and accelerate our efforts in improving transparency, we are working to perform another Merkle Tree Proof of Reserves audit with a third party within 30 days,” the crypto exchange said in a statement.
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